Elon Musk has set next month as the start of X Money’s early public access, opening the service to selected users before a full launch.
Money is a payment app, „providing a safe and fast digital banking experience with close to no fees and competitive interest rate”. According to its FAQ page, „the only fees you may see are: instant debit card withdrawals – 1.75% of the transaction amount (minimum fee of $0.25) / ATM withdrawals – Any fees charged are fully reimbursed within 48 hours”.
The announcement comes about a month after Musk stated that X Money would launch an external beta following a closed internal test.
He called the payments system a “game changer” that could make X an essential part of daily life for users and help the platform reach over one billion daily active users.
X Money is intended to serve as a digital banking service that provides users with a fast and secure way to manage their finances, supporting Musk’s goal of turning X into an all-in-one platform for communication, payments, and daily life.
The project builds on last year’s groundwork, including beta tests of digital wallets and person-to-person payments in partnership with Visa and the rollout of XChat, an encrypted messaging system Musk likens to Bitcoin-level security.
The service combines standard banking features with digital-first tools, including instant person-to-person payments, a virtual and physical Visa debit card, and account management entirely through the X app, according to its FAQ page.
Access to X Money requires a verified X account and is limited to individuals aged 18 and older in the US.
Security measures include passkey authentication, card locking, and Visa Zero Liability coverage for unauthorized transactions.
Crypto integration is not mentioned in X Money’s current features.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
